How to Save Money During Inflation & Market Volatility
The economic situation in Russia remains unstable, and after the announcement of partial mobilization, some people decided to leave the country, which led to panic in the market. Many have thought about saving their wealth in case of unforeseen situations. And if earlier Russians mostly kept money in dollars and euros, now the situation is changing. The introduction of restrictions on the purchase of foreign currency gave a powerful impetus to the development of the crypto market. Cryptocurrencies have become the very “protective asset” where Russians prefer to invest. How to protect your money from inflation and market instability and whether cryptocurrencies can save your savings, we will find out below.
Stablecoins are on the rise
Stablecoins whose value is directly pegged to the price of the dollar at a ratio of 1:1, are rightfully considered the most efficient asset for storing funds. No wonder experienced investors and traders recommend always taking profits in stablecoins. There are several ways to purchase such coins: exchange them on the spot platform of a cryptocurrency exchange or buy directly from other market participants on the P2P platform. For example, the Bitget exchange offers two options for buying stablecoins, and when using the P2P platform, users can also receive special bonuses, which makes this platform attractive to users. In addition, P2P exchangers always set the real exchange rate, and not the bank rate, as, for example, in stationary currency exchangers.
It is worth noting that since February of this year, the number of Bitget users has been constantly increasing, which indicates the growing popularity of cryptocurrency among CIS citizens.
Staking
Another effective and easy way to protect assets. In essence, staking is an alternative to a bank deposit, but users deposit cryptocurrencies instead of fiat currency. However, the amount of remuneration can vary significantly. If for a bank deposit the average rate is 11-12%, then for staking this figure can reach 80%. To receive a reward, users must follow a simple rule: do not withdraw coins until the end of the staking pool. At the same time, participants can replenish their deposit, which will lead to an increase in the number of rewards.
Crypto trading
Let's say right away that crypto trading is a rather complicated process in which many technical and market factors must be taken into account. However, cryptocurrency traders can not only save their funds but also significantly multiply them if they understand the market and have an experience in this area. For beginners, the copytrading function is quite suitable. All you need to make money is to create a deposit and subscribe to experienced traders and numbers presented on the Bitget platform. The system will automatically copy the transactions of experienced traders, and subscribers will receive a profit in proportion to the deposit made. If the situation on the market changes or the trader's trading strategy ceases to be effective and profitable, then you can unsubscribe from the trader or set a limit on funds for copy trading.
Investing
Investing in cryptocurrencies is a risky business, but it can bring good dividends. As in the case of crypto trading, the user must understand the specifics of the market, the strengths and weaknesses of the project before investing. Tokensales of promising startups are constantly held on the Bitget launchpad. Exchange users can purchase digital assets using BGB tokens. Note that each startup that conducts IEO undergoes a thorough compliance check by the Bitget service, which minimizes the risks of investing in scam projects.
Cryptocurrencies can become a defensive asset during a period of economic instability. However, when investing in cryptocurrencies, it is always necessary to take into account the risks and hedge them. Also, do not ignore demo accounts and try your earning strategy first on a test account, and only then move on to real trading in crypto assets.